Saudi Aramco has offered additional crude oil cargoes for loading from Egypt’s Sidi Kerir port on the Mediterranean on July 23, 2026. The move aims to bypass security risks in the Red Sea and the Bab el-Mandeb strait following Houthi threats against Saudi shipping and reported attacks on tankers.
The shift in logistics comes as Saudi Aramco seeks greater flexibility in reaching markets in Europe and North America. While the company already utilizes the Mediterranean route for some clients, the increase in available volumes follows vows by Yemen-based Houthis to target Saudi crude exports traveling through the Bab el-Mandeb strait at the southern end of the Red Sea.
Sidi Kerir and the Suez-Mediterranean Pipeline
To reach the Mediterranean, Aramco first delivers crude to the port of Ain Sukhna on the Red Sea. From there, the oil is transported via the Suez-Mediterranean Pipeline (SUMED) to the port of Sidi Kerir.
These additional shipments are being offered on a spot basis to supplement existing supplies for term buyers.
The company typically manages its crude sales through term supply contracts using an official selling price (OSP), with distinct pricing for customers in the U.S., Asia, North West Europe, and the Mediterranean.
Red Sea Security and Tanker Diversions
The decision to expand Mediterranean exports follows direct military action in the region. On Thursday, the Iran-aligned Houthis claimed they attacked two Saudi oil tankers in the Red Sea. Saudi state media later reported that one of those vessels caught fire as a result of the assault.
These security threats have already forced several tankers to change course, diverting toward the Suez Canal at the north exit to avoid the Bab el-Mandeb strait. Saudi Arabia has increased crude exports via its Red Sea port of Yanbu since the Iran war led to disruptions to Gulf exports via the Strait of Hormuz.
Kpler Data: Declining Volumes at Sidi Kerir
Despite Aramco’s recent push for more cargoes, overall crude loadings from Sidi Kerir have trended downward over the last year. According to data from the analytics firm Kpler, total exports from the port—which include non-Saudi crude—have dropped significantly.
| Year | Average Daily Crude Loadings (Sidi Kerir) |
|---|---|
| Last Year | 735,000 barrels per day |
| This Year | 427,000 barrels per day |
While the overall volume at the port has decreased, Aramco’s current offer of additional spot barrels suggests a strategic pivot to secure a reliable exit point for its crude as Red Sea navigation becomes increasingly hazardous.
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